BATANGAS, Philippines – Batangas Governor Hermilando Mandanas recently signed a memorandum of understanding (MOU) with Chinese company Teamrise Group Company Limited for the development of projects that would promotion tourism, food security, and air and cargo transportation in the province,
The MOU, which was signed in Hongkong, covers the development of the Batangas Access Zone, sea Ports and terminals expansion, and a food terminal project on a 29-hectare property.
Mandanas also wants Fernando Air Base in Lipa City to serve as a subsidiary airport to NAIA in Manila, a Batangas-Calamba Laguna railways system, and port expansions in Mabini town.
The MOU states that Teamrise Group, represented by its Chairman Zhang Hua, has the financial and technical capabilities as well as an abundant experience in the planning, design, financing, building, and operating of ports, railways, and airports.
Teamrise will conduct a prelimiary study and research on the proposed projects and provide recommendations and technical support relative to the building, construction and operation of the projects.
The MOU also provides that the parties can eventually enter into a future partnership or organize a joint venture to realize the plans.
Chief Presidential Legal Counsel Salvador Panelo, Special Envoy of the President to China Fernando Borja, and Philippine Ports Authority representative Elmer Cadano joined Mandanas in the Hongkong signing with Teamrise. – Rappler.com